Applied Optoelectronics, Inc. (NASDAQ:AAOI) Receives $13.75 Average Target Price from Brokerages

Applied Optoelectronics, Inc. (NASDAQ:AAOI) has earned an average recommendation of “Moderate Buy” from the four brokerages that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $13.75.

Several brokerages have weighed in on AAOI. Raymond James raised shares of Applied Optoelectronics from a “market perform” rating to an “outperform” rating and set a $17.00 price target on the stock in a report on Tuesday, September 3rd. B. Riley dropped their target price on shares of Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Rosenblatt Securities reissued a “buy” rating and set a $20.00 price target on shares of Applied Optoelectronics in a report on Wednesday, October 9th. B. Riley Financial restated a “neutral” rating and issued a $9.00 price objective on shares of Applied Optoelectronics in a research report on Thursday, August 8th. Finally, StockNews.com raised Applied Optoelectronics to a “sell” rating in a research note on Friday, October 25th.

Insiders Place Their Bets

In other news, insider David C. Kuo sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $15.02, for a total transaction of $150,200.00. Following the completion of the transaction, the insider now directly owns 132,921 shares in the company, valued at approximately $1,996,473.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co purchased a new stake in shares of Applied Optoelectronics in the first quarter valued at $46,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Applied Optoelectronics by 272.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock worth $77,000 after purchasing an additional 6,787 shares during the period. Point72 Hong Kong Ltd bought a new stake in Applied Optoelectronics in the second quarter worth about $89,000. Emerald Mutual Fund Advisers Trust boosted its position in shares of Applied Optoelectronics by 2.8% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 410,154 shares of the semiconductor company’s stock valued at $5,869,000 after buying an additional 11,037 shares during the period. Finally, Truvestments Capital LLC bought a new position in shares of Applied Optoelectronics during the first quarter valued at approximately $161,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

Applied Optoelectronics Stock Down 2.6 %

AAOI opened at $16.40 on Friday. The firm’s 50 day simple moving average is $14.69 and its two-hundred day simple moving average is $11.53. The company has a market capitalization of $670.69 million, a PE ratio of -8.59 and a beta of 1.96. Applied Optoelectronics has a 1-year low of $6.70 and a 1-year high of $24.75. The company has a current ratio of 1.64, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41.

Applied Optoelectronics (NASDAQ:AAOI) last issued its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.01. The business had revenue of $43.27 million during the quarter, compared to analysts’ expectations of $44.14 million. Applied Optoelectronics had a negative return on equity of 19.82% and a negative net margin of 34.84%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.31) earnings per share. As a group, equities analysts forecast that Applied Optoelectronics will post -1.08 EPS for the current year.

About Applied Optoelectronics

Applied Optoelectronics, Inc designs, manufactures, and sells fiber-optic networking products in the United States, Taiwan, and China. It offers optical modules, optical filters, lasers, laser components, subassemblies, transmitters and transceivers, turn-key equipment, headend, node, distribution equipment, and amplifiers.